Protein Alternatives Market

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Protein Alternatives Market Size, Share, Industry
Overview, Growth Drivers, and Top Companies
The global protein alternatives market is
estimated at USD 15.7 billion in 2024 it is
projected to grow at a CAGR of 9.9 to reach USD
25.2 billion by 2029. The protein alternatives
market has experienced rapid growth and
diversification in recent years, driven by
increasing consumer demand for
sustainable, health-conscious, and ethically
produced food options. Key drivers of this
market include rising concerns over the
environmental impact of traditional animal
agriculture, the health benefits associated
with plant-based diets, and ethical
considerations regarding animal welfare.
Major segments within the protein
alternatives market include plant-based
proteins, insect-based proteins, and microbial
proteins. Companies like Beyond Meat, Impossible
Foods, and Oatly have become household
names, reflecting the mainstream
acceptance and expanding consumer base
for these products. Technological
advancements and significant investments from
both food industry giants and venture
capitalists have further accelerated the
development and accessibility of innovative
protein alternatives.
Protein Alternatives Market Driver Increasing
Demand for Alternate Protein
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The increasing global population underscores
the necessity for alternative protein
sources. Over the past decade,
significant efforts have focused on
developing proteins from non-traditional crops
and livestock. This trend is particularly
noticeable in Europe and North America, where
consumer interest and investment in alternative
proteins have surged. The conventional sources of
animal protein like pork, beef, and chicken are
projected to be insufficient to meet
future demands, creating opportunities for
the expansion of the insect protein market. In
addition to proteins and fats, insects are
valued for their rich mineral and vitamin
content. Among younger demographics,
particularly in sports nutrition, insect
proteins, such as cricket flour, are gaining
popularity and are being incorporated into
various nutritious food products. For instance,
startups like Next Step Foods in the UK
produce cricket protein bars like "Yuana"
available in multiple flavors. The shift to
alternative proteins also promises
environmental benefits, notably in reducing
greenhouse gas emissions compared to
traditional meat production, as highlighted
by the World Economic Forum in 2019.
Moreover, adopting alternative proteins
addresses diet-related health concerns in
developing countries and promotes
healthier lifestyles in developed regions
such as North America and Europe. These
areas have already embraced alternative
protein sources such as edible insects,
plant-based meat, plant protein
ingredients, and cultured meat. Industry
experts predict significant market growth
potential for these products, with cultured and
plant-based meat alone expected to see over
40 growth in the coming years. In 2022, a
study funded by the European Regional Development
Fund revealed that 22 of UK consumers
preferred alternative protein sources over
meat, with the younger demographic showing
an even higher preference exceeding 25.
These trends underscore the growing market
opportunities in the insect protein
sector. Download PDF Brochure https//www.market
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rotein Alternatives Market Opportunities Changes
in consumer lifestyles The global population's
expansion is placing heightened strain on limited
resources, with escalating energy prices and
raw material expenses impacting food costs,
particularly affecting lower-income
demographics. Additionally, the strain on
food resources is being intensified by water
scarcity, notably prevalent across Africa
and Northern Asia. Within the Asia Pacific
region, there exists a cost advantage in terms of
both production and processing, fostering
high demand and offering favorable conditions
for dairy alternative suppliers and manufacturers
to target this market. As lifestyles evolve
rapidly, there's a noticeable shift towards
more nutritious and
health-conscious food options. The
distinction between fast food and junk food
is
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anticipated to grow, with consumers
increasingly seeking quick yet wholesome
alternatives. Recognizing naturally rich
nutritional products presents a significant
opportunity for suppliers and manufacturers to
meet evolving consumer preferences. Furthermore,
the rise in disposable incomes is driving
demand for convenient, healthy, and highly
nutritious products across Asia Pacific
nations. Emerging economies within the region
present substantial opportunities for growth
within the protein alternatives market. Plant
protein is estimated to be the fastest
source segment in the protein alternatives
market during the forecasted period of
20242029. Plant protein has rapidly emerged
as the frontrunner in the protein
alternatives market, prized for its speed of
adoption and nutritional benefits. With
consumers increasingly focused on health,
sustainability, and ethical considerations,
plant-based proteins offer a compelling
solution. Unlike traditional animal-derived
proteins, which often come with
environmental concerns and ethical debates,
plant proteins are generally more sustainable to
produce and consume. One of the key reasons
for the swift ascent of plant protein in
the market is its versatility. Manufacturers
can extract protein from a wide array of plant
sources, such as peas, soybeans, hemp, and even
algae, offering a diverse range of products that
cater to different dietary preferences and
needs. This diversity fuels innovation,
leading to products that not only match but
sometimes surpass their animal-based
counterparts in taste, texture, and nutritional
profile. Furthermore, plant protein's rapid
digestion and absorption rate make it
highly appealing to athletes and
health-conscious individuals seeking efficient
protein sources for muscle recovery and overall
wellness. As research continues to highlight the
health benefits of plant-based diets, including
reduced risks of chronic diseases, the popularity
of plant protein is expected to continue its
meteoric rise in the protein alternatives
market. Make an Inquiry to Address your Specific
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North American region is projected to
dominate the protein alternatives
market. North America stands as the
dominant region in the protein alternatives
market, owing to its robust
infrastructure, technological advancements,
and growing consumer demand for sustainable
food sources. This leadership is underscored
by strategic developments such as in
January 2022 ADM's (US) collaboration with
Innova Feed (France), aimed at supplying insect
protein for ADM's pet food division
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• while leveraging waste heat and water resources
  effectively. This partnership not only enhances
  ADM's product offerings but also reinforces
  sustainability initiatives in the pet food
  industry. Similarly, In May 2021, Cargill's
  (US) strategic partnership with InnovaFeed
  (France) focuses on supplying insect feed for
  aquaculture and integrating insect oil into pig
  feed, addressing the increasing need for
  innovative protein sources in animal nutrition.
  These collaborations highlight North
  America's pivotal role in advancing protein
  alternatives through strategic alliances that
  promote sustainability and technological
  innovation in the food and feed sectors.
• Top Companies in the Protein Alternatives Market
• ADM (US)
• Cargill Incorporated (US)
• International Flavors Fragrances Inc. (US)
• Ingredion (US)
• Roquette Frères (France)
• Wilmar International Ltd. (Singapore)
• Glanbia plc (Ireland)
• Kerry Group PLC (Ireland)
• DSM (Netherlands)
• AGT Food and Ingredients (Canada)
• Tate Lyle (UK)
• Burcon (Canada)
• Protein Alternatives Industry News

By Source
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• 1. Plant Protein
• Soy
• Peas
• Wheat
• Canola, Rice, Oats and Potatoes
• Beans seeds
• Other Plant Protein
• Microbial Protein
• Algae
• Fungi
• Bacteria
• Other Microbe-based
• Insect Protein
• Cricket

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• RTD Beverages
• Other Functional Food
• Convenience Foods
• Baked Food
• Snacks
• Sauces, Gravies, Soups
• Spreads
• Other Convenience Foods
• Animal Feed/Nutrition
• Poultry
• Swine
• Ruminants
• Aquaculture
• Pet Food
• Cat food